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AMC Entertainment Holdings, Inc. (AMC)

NYSE:AMC

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In AMC Entertainment Holdings, Inc. To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in AMC Entertainment Holdings, Inc. (“AMC” or the “Company”) (NYSE:AMC) of the March 13, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in AMC Entertainment Holdings, Inc. stock during the Company’s secondary public offering (the “SPO”) on or about February 8, 2017 and/or between December 20, 2016 and August 1, 2017 and would like to discuss your legal rights, please fill out the form below.  There is no cost or obligation to you.  You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com. 

The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased AMC Class A common shares in the SPO on or about February 8, 2017 and/or purchased AMC common shares between December 20, 2016 and August 1, 2017, inclusive (the “Class Period”).  The case, Hawaii Structural Ironworkers Pension Trust Fund v. AMC Entertainment Holdings, Inc. et al No. 1:18-cv-00299 was filed on January 12, 2018, and has been assigned to Judge Alison Julie Nathan.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by issuing a Form S-3 and Prospectus (jointly referred to as the “Registration Statement”) containing materially false and/or misleading information in connection with its SPO.

Specifically, on March 3, 2016, AMC announced that it had entered into a definitive merger agreement with Carmike Cinemas, Inc. (“Carmike”), under which AMC would acquire all of Carmike’s outstanding shared. The acquisition was completed on December 21, 2016. On the same day, AMC filed a Form S-3 with the U.S. Securities and Exchange Commission (“SEC”) and later filed a Prospectus with the SEC on February 9, 2017. According to the lawsuit, the Registration Statement failed to disclose that Carmike had been experiencing a significant loss in market share during the first nine months of 2016 and that this was continuing to adversely affect its operating performance.

The lawsuit also focuses on whether the Company and its executives violated federal securities laws by issuing false and/or misleading information about: (i) the operations of Carmike; (ii) the seasonality of AMC’s foreign operations; (iii) AMC’s loyalty program, AMC Stubs; (iv) AMC’s MD&A; and (iv) AMC’s disclosure controls.

Specifically, on August 1, 2017, AMC announced that it expected to report a Q2 2017 net loss in the range of $178.5 to 174.5 million.

After this announcement, AMC’s share price fell from $20.80 per share on August 1, 2017 to a closing price of $15.20 on August 2, 2017—a $5.60 or a 26.92% drop.

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  • Case:
    AMC Entertainment Holdings, Inc. (AMC)
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* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 01/17/2018

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